CBN says investigating some banking transactions

The central bank and law enforcement authorities in Nigeria have launched an investigation into some financial transactions in some banks, the bank said on Tuesday.

"The CBN is also carrying out its own special examinations and investigations to ascertain the veracity of some allegations, as well as the extent and persons that may be involved in such activities," the bank said without giving details.

Last week, the Economic and Financial Crimes Commission (EFCC) said it had detained the managing director of Nigeria's Fidelity Bank PLC as part of an investigation into some financial transactions.